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Information already available in public domain, cannot be construed as collusion between Ops: CCI

October 16, 2022 933 Views 0 comment Print

CCH held that sporadic communications between OPs exchanging information, which is already available in public domain, cannot be construed as collusion between OPs.

CCI found 8 firms guilty of bid rigging & cartelization in Eastern Railway tenders

October 16, 2022 1263 Views 0 comment Print

Rakesh Khare Vs Krishna Engineering Works (Competition Commission of India) CCI issues cease and desist order against firms found guilty of bid rigging and cartelization in tender floated by Eastern Railway The Competition Commission of India (CCI) issued a final order today against eight firms which were found to have contravened the provisions of Sections […]

Resolution Plan cannot be permitted to be withdrawn after approval: NCLAT

October 14, 2022 2031 Views 0 comment Print

NCLAT held that in event the submission of Appellant is accepted that due to financial difficulty he is unable to implement Resolution plan and he be permitting to go back from the commitments made in the Resolution Plan, it shall have disastrous effect on the entire process undertaken.

Arbitration – Legal remedy cannot be extended by consent

October 14, 2022 900 Views 0 comment Print

Extramarks Education India Private Limited Vs Ram School (Delhi High Court) The petitioner’s other objection, that since in its reply dated 31.08.2021 the respondent themselves were willing to accept and had given their consent for appointment of an arbitrator “near to the locality” where the respondents were located, is neither here nor there, since if […]

TP – ALP: Every Assessment Year is A Separate Unit, governed by its own peculiar facts

October 14, 2022 1917 Views 0 comment Print

Court is of the view that every Assessment Year is a separate unit which is governed by its own peculiar facts and difference of opinion between the parties, as to the appropriateness of one or the other methods to calculate arm’s length price, cannot per se be a ground for interference

Revised procedure for General Authorisation for Export after Repair in India

October 14, 2022 1290 Views 0 comment Print

Inclusion of Paragraph 2.79C (D) in the Handbook of Procedures of the Foreign Trade Policy (FTP) 2015-20 to notify the procedure for General Authorisation for Export after Repair in India (GAER)

Suspension, Cancellation or Surrender of Certificate of Registration of CRA

October 13, 2022 666 Views 0 comment Print

On and from the date of the Order, or the date of submission of request for surrender of certificate of registration to SEBI, as applicable, the concerned CRA shall disclose prominently on its website, the Order or the Request, as the case may be, and communicate the same to its clients within 15 days of the Order or the Request;

Assessment cannot exceed prescribed ‘limited’ scrutiny scope except as per due process of law

October 13, 2022 1209 Views 0 comment Print

Sagar Uttam Murhe Vs DCIT (ITAT Pune) Case law (2020) 120 com 187 CIT vs. Padmavati (Mad) (HC) holds that such an assessment could not exceed the scope of the prescribed ‘limited‘ scrutiny except as per the due process of law. This is indeed coupled with various coordinate benches decisions reiterating the very legal proposition. […]

HC allows delayed filing of appeal against GST Registration cancellation order

October 13, 2022 3675 Views 0 comment Print

Poonamchand Saran Vs Union of India (Rajasthan High Court) It is not disputed that appeal against cancellation of the GST registration can be filed within thirty days which can be extended by a further period of 30 days. The petitioner Poonamchand Saran filed the e-appeal in time but could not submit the hard-copy. On the […]

ITAT Condones 314 days Delay in filing of Form No. 10CCB

October 13, 2022 3000 Views 0 comment Print

Atlantic Bio Medical Pvt. Ltd Vs DCIT (ITAT Mumbai) Assessee had undisputedly filed the return of income electronically but under bonafide belief that the Form 10CCB was to be filed manually with the AO as and when required thus failed to file the same electronically along with the return of income. No doubt ignorance of […]

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